30.08.2011 - India: Prices of new residential property could fall 10-15pct by Diwali

That dream home you have been waiting to buy may soon become a tad more affordable - prices of new residential property could fall 10-15% by Diwali.
Builders, which have accumulated huge inventories as sales dipped over the last two years, are under pressure from banks and investors to sell in order to generate revenues. Adding to the pressure is a growing mountain of debt, over Rs 38,000 crore for the top 11 realtors. "The property market cannot sustain the current price levels. Mumbai and Delhi are the most investor-driven markets..............................................Full Article: Source